AUSTRALIA'S highly prized southern bluefin tuna is in dire trouble, according to a new global fisheries assessment by an international environment organisation.
Of all the heavily fished tunas that face threats, southern bluefin stands out as a clear-cut case for "critically endangered" status, a scientific review by the International Union for the Conservation of Nature (IUCN) has found.
The finding is a blow to Australian fishers convinced that local bluefin stocks are improving, but underscores a recent federal government decision to demand that its continued fishing be made legally sustainable. Bluefin tuna is ought after in Japan for sashimi. The fishery's value is estimated at $1 billion by the international Commission for the Conservation of Southern Bluefin Tuna.
Overfishing including a hidden 20-year, $8 billion Japanese overcatch exposed by Australia has devastated the species over the past 50 years.
Its breeding population stands at less than 8 per cent of its original size, according to the federal Environment Department.
The conservation union reviewed southern bluefin's status in a broad examination of 61 important oceanic food species in the scombrid and billfish families. It concluded that the southern bluefin stood out among eight tuna species at greater risk than the Pacific bluefin and the Atlantic Ocean's northern bluefin.
"I'm afraid the statistics on the southern bluefin are very clear," Kent Carpenter, the global marine species assessment co-ordinator for IUCN, told The Age.
"All three bluefin tuna species are susceptible to collapse under continued excessive fishing pressure," Professor Carpenter said. "The southern bluefin has already essentially crashed, with little hope of recovery."
The study published in the journal Science found that the most efficient way to avoid further damage was to shut down the southern and Atlantic bluefin fisheries until stocks were rebuilt to healthy levels.
But it said this would cause increased economic hardship and give an incentive for illegal fishing. Instead there was an urgent need for effective management.
The Commission for the Conservation of Southern Bluefin Tuna has called a special meeting in Sydney next month to try to thrash out a new quota system that will quickly respond to evidence on the fish's population health. Meanwhile, an international catch limit of 9354 tonnes is in place for bluefin this year.
The Australian Tuna Association said recently that new scientific assessments would vindicate its belief that stocks are recovering.
The association's chief executive, Brian Jeffriess, said a 25 per cent quota cut in 2009 was premature and illogical, as was listing the species under the Environment Protection and Biodiversity Conservation Act.
But the Australian Marine Conservation Society continues to strongly oppose continued fishing.
Dangers to tuna stocks in the Australian region do not stop at bluefin. The Science article said that most long-lived and economically valuable fish species surveyed were threatened. These included bigeye (vulnerable), yellowfin and albacore (each near threatened), which can be found in Australian markets.
SOUTHERN BLUEFIN TUNA
Grows to over 200 kilograms and two metres in length.
Super-streamlined to snatch prey at 70 kilometres an hour.
First listed as critically endangered in 1996.
Mainly caught by Australian fishers using purse-seine nets.
International catch limit is 9354 tonnes.
Frequently Asked Questions about this Article…
What did the IUCN assessment find about southern bluefin tuna being critically endangered?
The International Union for the Conservation of Nature (IUCN) scientific review found southern bluefin tuna stands out as a clear-cut case for 'critically endangered' status among heavily fished tunas. The assessment said all three bluefin species are susceptible to collapse under continued excessive fishing pressure, with the southern bluefin already essentially crashed.
How severe is the decline in southern bluefin tuna stocks in Australia?
According to the federal Environment Department cited in the article, the southern bluefin tuna breeding population is now less than 8% of its original size. The species has been devastated over the past 50 years by overfishing, including a reported hidden 20-year, $8 billion Japanese overcatch exposed by Australia.
What is the current international catch limit for southern bluefin tuna and could it change?
The international catch limit for southern bluefin tuna is 9,354 tonnes for the year referenced in the article. The Commission for the Conservation of Southern Bluefin Tuna (CCSBT) has called a special meeting in Sydney to try to develop a new, responsive quota system, so quotas could be adjusted based on new evidence of population health.
How valuable is the southern bluefin tuna fishery and why does it matter to investors?
The international Commission for the Conservation of Southern Bluefin Tuna estimates the fishery is worth about $1 billion. That economic value means quota decisions, scientific assessments and possible management changes can affect fishers, processors and broader seafood markets—information investors may want to monitor.
What do industry groups and conservation organisations say about continued southern bluefin fishing?
Views differ: the Australian Tuna Association says new scientific assessments will show stocks are recovering and criticised a 25% quota cut in 2009 as premature, while the Australian Marine Conservation Society strongly opposes continued fishing. Regulators have also signalled a need to make continued fishing legally sustainable.
Are other tuna species at risk in the Australian region?
Yes. The Science review noted that many long-lived and economically valuable species are threatened. Specifically mentioned were bigeye (listed as vulnerable) and yellowfin and albacore (each listed as near threatened), which can be found in Australian markets.
Would closing bluefin fisheries be an effective way to rebuild stocks?
The Science study concluded the most efficient way to avoid further damage would be to shut down the southern and Atlantic bluefin fisheries until stocks were rebuilt to healthy levels. However, the study warned such shutdowns would cause increased economic hardship and could incentivise illegal fishing, highlighting an urgent need for effective management instead of a simple shutdown.
What developments should everyday investors watch regarding southern bluefin tuna and seafood markets?
Investors should watch outcomes from the CCSBT special meeting in Sydney on quotas, new scientific assessments of stock health, federal policy moves to make fishing legally sustainable, and any changes to the international catch limit. These developments could influence supply, regulation and economic conditions for fishers and seafood-related businesses.
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